Chart of Accounts Basics

A Chart of Accounts (CoA) is an index of all the financial accounts in the General Ledger (GL) of a company. It is an organizational tool that provides a digestible breakdown of all the financial transactions that a company conducted during a specific accounting period, broken down into subcategories.

The account codes and names used in Ordway should match those in the user’s GL system. 

Upon creation of a new Ordway instance, a default set of Chart of Accounts (CoA) is created. These accounts can be deleted or modified to match your existing Chart of Accounts.

There are three options for creation of the Chart of Accounts:

• Add Chart of Accounts manually
• Import Chart of Accounts from a .CSV file or excel spreadsheet
• Import Chart of Accounts from integrated QuickBooks Online (QBO)